This week, I traveled to Kentucky for my debate with Vice President Joe Biden -- and, once again, the American people saw the clear choice in this campaign: President Obama and Vice President Biden want to raise taxes by $2 trillion. Mitt Romney and I want to keep taxes low.
Mitt and I know that we can't afford four more years like the last four years. We need a real recovery. And unlike our opponents, Mitt and I will deliver one by providing real tax relief for both our nation's small businesses and the middle class.
President Obama? He raised taxes 21 times. If re-elected, he'll raise taxes even more and our small businesses and middle-income families will suffer. President Obama refuses to get serious about spending.
And given the President's preference to raise taxes, just to pay the interest on the debt that the President has racked up and proposed, a middle-income family will see their tax bill grow by $4,000 a year.
For middle class families, that's real money and real pain. It's a down payment on a car. It's about a month's worth of bills. For a lot of parents, it's the kind of burden that means asking your children to go without, so that President Obama can keep on doing more of the same.
This President seems to think that it's okay to ask middle-class families to foot the bill for his spending spree. I believe that's wrong. We want to rein in what Washington is spending -- not take more of what you are earning.
In a Romney-Ryan administration, we won't keep spending and borrowing and sticking our nation's families and small businesses with the bill. We'll get our spending under control. We'll put our budget on the track for balance. We'll cut our deficit. And we'll keep taxes low.
That will start with a permanent, across-the-board, 20 percent cut in marginal tax rates. Then we'll eliminate current rates on interest, dividends, and capital gains for anyone making less than $200,000 a year. We will eliminate the Alternative Minimum Tax and the Death Tax. And we will reform the tax code to make it simpler, fairer, and more competitive.
Do that, and our economy will come roaring back to life. President Obama's tax plan will kill 700,000 jobs. Our tax plan will create seven million new jobs -- and provide the kind of tax relief that our middle-income families and small businesses need. That's going to make America the best place to start a business or expand a business, to keep a job or find a job.
In this election, we have a very clear choice on taxes. Mitt Romney and I are ready to take our pro-growth tax policies to Washington, DC, to start a real recovery and to help grow our economy. But before we can do that, we need your help -- and we need your vote. Together, from now until November, let's fight for the country we love -- and the kind of pro-growth tax policy we need.